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Step into Nordstrom a year ago for handmade Italian pumps and flats from designer Anyi Lu and you’d be shelling out as much as $595 a pair. This season, everything in the spring collection that hits stores next month goes for under $400. For CEO David Spatz, adjusting prices downward simply made sense: "The […]
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LONDON–Britain’s Treasury chief said Sunday that the government must make difficult choices on spending cuts as it seeks to slash the country’s growing deficit.
Chancellor of the Exchequer Alistair Darling is expected to announce tax hikes and public-sector spending cuts in a pre-budget review on Wednesday.
The government has said it wants to halve […]
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He is Tiger Inc. Hear him roar.
Multi-million dollar contracts. An estimated $100 million (U.S.) in endorsements per year. More than $92 million from PGA career tournament winings. Ballooning PGA ticket sales and TV viewership levels.
Tiger Woods was, until now at least, a thoroughly unpolarizing sponge for corporate money who, according to Forbes magazine, […]
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AIG announced Tuesday that it completed a deal wiping out $25 billion of its debt to taxpayers by selling stakes in two subsidiaries to the Federal Reserve Bank of New York.
The troubled insurer gave the New York Fed preferred shares of two of its international life insurance companies, including $16 billion of American International […]
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The hamsters are fake, with a coating of fuzz over a mechanized chassis and a small sound system. But when it comes to creating intense desire among kids — and desperation among shopping parents — Zhu Zhu Pets are the real deal.
When the Post-Dispatch profiled the electronic rodents eight weeks ago, toymaker […]
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More than a year after the financial meltdown of 2008, Congress is moving forward on plans to drastically curtail the power of the Federal Reserve.
There is a debate about lawmakers’ motivations, and many details must still be worked out between different proposals.
Currently, the main bills in the House and Senate differ in specifics, […]
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The head of the International Monetary Fund said on Friday the pace of the recovery in the U.S. economy remains sluggish but he does not believe there will be a double-dip recession.
IMF managing director Dominique Strauss-Kahn said that capital flows to emerging markets reflected the positive outlook for those economies but warned that they […]
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Compensation curbs announced yesterday by the Treasury Department and the Federal Reserve thrust the U.S. government into decisions about pay and performance traditionally reserved for corporate boards.
The Treasury’s special pay master, Kenneth Feinberg, slashed the salaries of the most highly paid executives at seven companies that received taxpayer aid, including Citigroup Inc. and […]
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Bank of Korea Governor Lee Seong Tae said any future increase in the benchmark interest rate can be bigger than the bank’s usual 25 basis points, indicating he may raise rates at a faster pace in the coming months.
“It’s difficult to say the increase will be by 0.25 percentage point each time” as […]
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Former Federal Reserve Chairman Alan Greenspan said the central bank risks higher inflation by 2012 if it waits too long to start curtailing its unprecedented monetary stimulus.
“We cannot afford to get behind the curve on reining in this extraordinary amount of liquidity because that will create a major increase in inflation down the […]
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